JAY-Z Applies for New York Gaming License to Start a Sportsbook
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With the sports gambling market rising every day, JAY-Z has eyes on getting in. Days after his $325 million investment into Fanatics sports e-commerce initiative, Hov and Michael Rubin have applied for a New York gaming license to form Fanatics Sportsbook.
Fanatics is currently valued at $18 billion and has partnerships with major sports leagues across the nation. The valuation is based on what is supposed to come from the sports gambling world. TMZ states Hov and Rubin have teamed with Kambi, a company that develops the software for sports gaming operators.
A decision for Hov and Rubin’s sportsbook is expected in December. There are six groups aiming to receive approval. JAY-Z is the only Black owner and New Yorker in the group to apply.
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